VAN ELLE LIMITED
Company number: 02590521
1 November 2022
to 30 April 2023
This report was filed on 30 May 2023
and approved by Graeme Campbell
Average time taken to pay invoices: 63 days
- within 30 days: 9%
- in 31 to 60 days: 46%
- in 61 days or more: 45%
Invoices due but not paid within agreed terms: 13 %
Shortest standard payment period
Longest standard payment period
Standard payment terms
30 days from end of month of invoice
45 days from end of month of invoice
60 days from end of month of invoice
Were there any changes to the standard payment terms in the reporting period?
Maximum contractual payment period agreed
Any other information about payment terms
Dispute resolution process
When an invoice is received and there is no proof of delivery the site teams are contacted by the finance team to provide the proof of delivery.
Where no proof of delivery is available internally, the vendor is contacted by the finance team for a copy of the proof of delivery. If no proof of delivery is then obtained, approval is obtained internally from senior management
Where there is a variance to the purchase order, the purchase order creator is contacted by the finance team to review and approve the invoice variance.
Disputes relating to payment terms are dealt with by the purchasing department (except for a maximum tolerance level of £15, which is reported and monitored)
Other payment information
Has this business signed up to a code of conduct or standards on payment practices? If so, which?For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.
Does this business offer e-invoicing in relation to qualifying contracts? This is where suppliers can electronically submit and track invoices. It’s not just allowing suppliers to email them an invoice.
Does this business offer supply chain finance? This is where a supplier who has submitted an invoice can be paid by a third-party finance provider earlier than the agreed payment date. The business would then pay the finance provider the invoiced sum.
Under its payment practices and policies, can this business deduct sums from payments under qualifying contracts as a charge for remaining on a supplier list?
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?